An act TO AMEND THE LAW CONCERNING THE FUNDS USED FOR 10 PROVIDING PROPERTY TAX RELIEF, the official text

Stricken language would be deleted from and underlined language would be added to present law.

1 State of Arkansas       A Bill
2 95th General Assembly

3 Regular Session, 2025                                            HOUSE BILL 1074

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5 By: Representative Ray

6 By: Senator Crowell

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8                         For An Act To Be Entitled

9   AN ACT TO AMEND THE LAW CONCERNING THE FUNDS USED FOR

10  PROVIDING PROPERTY TAX RELIEF; TO AMEND THE PROPERTY

11  TAX RELIEF TRUST FUND; TO REQUIRE A HIGHER VOTE

12  THRESHOLD FOR USING MONEYS IN THE PROPERTY TAX RELIEF

13  TRUST FUND FOR PURPOSES OTHER THAN PROPERTY TAX

14  RELIEF; AND FOR OTHER PURPOSES.

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17                        Subtitle

18                       TO AMEND THE PROPERTY TAX RELIEF TRUST

19                       FUND; AND TO REQUIRE A HIGHER VOTE

20                       THRESHOLD FOR USING MONEYS IN THE

21                       PROPERTY TAX RELIEF TRUST FUND FOR

22                       PURPOSES OTHER THAN PROPERTY TAX RELIEF.

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24 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

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26  SECTION 1. Arkansas Code � 19-5-1103(b), concerning the Property Tax

27 Relief Trust Fund, is amended to read as follows:

28  (b) The fund shall consist of such revenues as generated by �� 26-52-

29 302(c), 26-52-317(c)(1)(B), 26-52-319(a)(2)(B), 26-53-107(c), 26-53-

30 145(c)(1)(B), 26-53-148(a)(2)(B), and 26-56-224(c)(2). and

31  (c) The fund shall be used for: such purposes as set out

32  (1) Property tax relief; and

33  (2) Any other purpose authorized by the General Assembly,

34 subject to the requirements stated in � 26-26-310.

35

36  SECTION 2. Arkansas Code � 26-26-310, concerning certification of the

    *JLL089*                                                     01/03/2025 8:57:40 AM JLL089
                                                                   HB1074

1 amount of the property tax reduction and the distribution of property tax

2 relief funds, is amended to add an additional subsection to read as follows:

3   (e)(1) Except as provided in subdivision (e)(2) of this section, a

4 distribution from the Property Tax Relief Trust Fund under this section shall

5 be for the purpose of providing property tax relief.

6   (2) The General Assembly shall not authorize a use of the funds

7 in the Property Tax Relief Trust Fund for a purpose other than providing

8 property tax relief under this section unless the purpose is approved by a

9 three-fourths (3/4) vote of each house of the General Assembly.

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